Abdul Jalil: Berjaya Corp plans hospitality REIT

Berjaya group CEO Abdul Jalil Abdul Rasheed said the operating model of the group’s hospitality division is now gradually shifting to owner model rather than an operator model.

KUALA LUMPUR: Berjaya Corporation Bhd (BCorp) is eyeing to establish a hospitality real estate investment trust (REIT) in the long run, which focuses only on five-star hotels owned by the group instead of those it operates, said group chief executive officer (CEO) Abdul Jalil Abdul Rasheed.

Abdul Jalil, who was appointed as group CEO in March this year, said the operating model of the group’s hospitality division is now gradually shifting to owner model rather than an operator model.